Eighteen months after taking the reins, and having made big changes to its executive line-up, Frazis is set to go to shareholders with a new strategic pillar.
As Street Talk revealed on Thursday afternoon, BoQ is the preferred buyer for ME Bank and has its bankers and lawyers readying final documents so the deal can be signed.
It’ll pay $1.3 billion and ask shareholders to help fund the deal with an equity raising, of about the same size.
The deal will end 26 industry super funds’ experiment of owning a bank, and have ME Bank’s $25 billion or so in loans transferred to BoQ.
Elsewhere, bankers are gearing up for the $5 billion-plus gorilla that is Chemist Warehouse.
The retail giant is poised to call them in to pitch for roles leading a sharemarket float slated for this year.
It’s a plum job and all the big banks are expected to make a pitch.
Happy reading,
Sarah Thompson, Anthony Macdonald and Tim Boyd Street Talk Editors
The ASX-listed property fund manager is going the extra mile in its efforts to buy Blackstone’s on-the-block $3.5 billion logistics property portfolio.
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